Located at 9180 Camino Santa Fe, the property encompasses 28,444 sf. The buyer, LMC-Camino Santa Fe LLC, plans to hold the facility as an investment.
Dave Odmark of Business Real Estate acted on behalf of LMC-Camino Santa Fe LLC. The seller, Aardema Family LP, was represented by Mickey Morera and James Duncan of Burnham Real Estate Services ONCOR International.
The acquisition comes as things are looking up for the San Diego industrial market. According to a January report by Burnham, the region kicked off the new year with an industrial vacancy rate of 7.4%, the lowest level reported here since 1997. The vacancy rate for multi-tenant space was reported as 4.7%, while the warehouse sector experienced a vacancy level of 9.3%.
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